April is Financial Literacy Month and what better way to celebrate than highlighting simple ways to save money!

ATM Savvy!

  • Ask your financial institution what automated teller machines (ATMs) you can use without paying a fee. Then, if you were paying ATM fees in the past, put the amount of the fees you avoided into your savings.

Count Your Coins!

  • Save your change at the end of the day. Then, put it into your savings every week or every month.

Do I Need It?

  • Where can you save some money and add it to your savings?
  • Can you eliminate or cut back on any daily expenses?
  • Do you have services you do not need or don’t use?
  • Are you paying subscription fees for something you no longer use?

Free Fun!

  • Look for free entertainment—libraries, parks, festivals, and more. For example, if you would have gone to the movies, go to the park instead. Then, set aside the price of the movies and add it to your savings.

Goals for Gifts!

  • Set gift-giving limits with friends and family you regularly exchange gifts with.
  • Remember to consider the gift of time. For example, create a coupon book offering your time to help with household chores.
  • Figure out what you usually would have spent and put half of that amount in savings.

If It’s Not on the List, It Doesn’t Exist!

  • Stick to a shopping list. Put the money you want to spend on something not on your list into your savings.

Is It Worth It?

  • Calculate the cost of a purchase by the hours you will have to work to pay for it versus the price. For example, if your take-home pay is $8 per hour and you want to buy something for $80, it would take 10 hours of work to get it. Is this an excellent value to you?
  • Don’t buy if you decide the purchase is not a good value. Instead, set aside the money you would have spent and add it to your savings.

 Save Tax Refunds!

  • If you receive a tax refund, save as much as possible.
  • Choose to receive your tax refund via direct deposit.
  • You can split it between a maximum of three different accounts.
  • You can also use part of your refund to purchase a U.S. savings bond.

Remember, for every dollar you save by implementing these strategies, you’re one step closer to achieving your financial goals, and Metrocrest Services’ is here to help. Click here to learn more about our Financial Education program and how we can support you on your journey to financial stability.